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UDF (United Dairy Farmers) Analysis - Assignment Example

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Name of the Writer Name of the Instructor Risk Management Date Submitted Risk Analysis for United Dairy Farmers Ice Cream Business, Columbus, Ohio About the Business A privately owned company based in Cincinnati, United Dairy Farmers (UDF) has been supplying the USA with milk, and other dairy products like ice-cream since 1938…
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UDF (United Dairy Farmers) Analysis
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Download file to see previous pages This ice-cream has been known for its heavy use of fresh condiments and low overrun. In 1984, the UDF Homemade Brand of ‘Cookies N Cream’ was designated by People Magazine as the Number One Brand of Exotic Ice Cream across Canada and the USA. Following this endorsement, UDF Brand ice creams have increased in popularity and can be found in many states in the mid-central region of the USA. The business has expanded to Georgia, Indiana, Illinois, Florida, Kentucky, Louisiana, Mississippi, Michigan, Ohio, North Carolina, Pennsylvania, South Carolina, Tennessee, West Virginia and Virginia. UDF also produces and sells Frosty Malts and Sherbets, Special Recipe ice-creams, yogurts and milk shakes (UDF Website, History Section). Identification of Risks The making and selling of ice-creams is an exciting business but is nevertheless fraught with different types of risks. Some of these are natural but others are manmade. Consequently, some of the risks can be covered by insurance and other safety and security procedures while others just have to be borne or dealt with. In my interview with the manager, I determined that the following risks were most relevant to UDF’s ice-cream related business: a. Risk of long power failure and melting of inventory; b. Risk of legal action due to foreign objects found in products; c. Risk of contamination of ice cream due to chemical agents; d. Risk of ice cream parlor/ store outlet burning down; e. Risk of rioting, hooliganism and other disruptive activities; f. Risk of employees going on strike or industrial action; g. Risk of bad service because employees are insufficiently trained; h. Risk of its formulas and recipes being compromised; i. Risk of contaminated supplies of inputs; j. Risk of contamination or exposure in the delivery process. Steps That Can Be Taken to Mitigate These Risks The risk of long power failure though unheard of is possible in case of a natural calamity like a tornado, blizzard, thunderstorm or flood striking Columbus, Ohio. Riots and strikes are also covered. Even emergency systems could be affected and businesses forced to shut down for some time. In this case keeping the inventory and supplies safe, secure and ready for consumption will be a challenge. However the business has determined its usual stock of inventory and consumption on weekdays, weekends and public holidays and has accordingly ensured each store on the average level of stocking and consumption. The backup system at the stores ensures that power is available for three days or 72 hours but after that something will have to be done to preserve the merchandise. Insurance has been taken out for possible inventory losses and also a contract has been entered into with a cold storage plant so that supplies and goods can be stored there in an emergency, ensuring business continuity. Quality control is strictly ensured as all inputs are checked before inclusion in the production process. In case there are signs of low quality, the entire lot is returned and replaced according to the contract with suppliers. The business has also hired local legal and advertising agencies to promote its products via various media including television, billboard and internet based advertising. The legal firm is also responsible for vetting all press releases and protecting against copyright and trademark infringements. It is ...Download file to see next pagesRead More
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